iA Financial (TSE:IAG) Sets New 1-Year High – Here’s Why

Shares of iA Financial Co. Inc. (TSE:IAG) hit a new 52-week high on Wednesday . The company traded as high as C$140.17 and last traded at C$140.54, with a volume of 209019 shares changing hands. The stock had previously closed at C$137.59.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on IAG shares. Desjardins boosted their price objective on shares of iA Financial from C$140.00 to C$145.00 and gave the stock a “hold” rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on iA Financial from C$140.00 to C$150.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. TD Securities increased their price objective on iA Financial from C$146.00 to C$147.00 and gave the company a “buy” rating in a research note on Tuesday, February 25th. Royal Bank of Canada boosted their price objective on shares of iA Financial from C$137.00 to C$141.00 and gave the company a “sector perform” rating in a research report on Thursday, February 20th. Finally, CIBC raised their price objective on iA Financial from C$144.00 to C$149.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$140.75.

iA Financial Trading Down 7.9 %

The firm has a market capitalization of C$11.54 billion, a PE ratio of 11.72, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. The firm has a 50-day moving average of C$131.60 and a two-hundred day moving average of C$127.12.

iA Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.93%. iA Financial’s dividend payout ratio (DPR) is 31.25%.

Insider Transactions at iA Financial

In related news, Senior Officer Alain Bergeron sold 2,750 shares of the company’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of C$134.01, for a total transaction of C$368,525.85. In the last quarter, insiders sold 12,750 shares of company stock worth $1,731,044. 0.09% of the stock is currently owned by company insiders.

About iA Financial

iA Financial Corporation Inc, provides insurance and wealth management services in Canada and the United States. The company operates through Insurance, Canada; Wealth Management; Investment; and US Operations segments. The company provides health, auto, home, and creditor insurance products; replacement insurance products and warranties; extended warranties and other ancillary products for dealer services; specialized products for special markets; and life insurance products and extended warranties relating to dealer services.